Indian equity markets traded lower on Friday morning, halting a two-day rally, as investors reacted to global cues following inconclusive US jobs data. The uncertainty over the near-term path of interest rates weighed on sentiment, triggering a sell-off in key sectors.
The S&P BSE Sensex fell over 300 points, while the Nifty 50 slipped below the 26,100 mark, closing around 26,093. Despite the decline, domestic benchmarks remain close to record highs, reflecting resilient underlying fundamentals.
On thursday, Adani Group has completed its exit from Adani Wilmar, offloading its last shares through a block trade taken up by major domestic and global institutions.
Among the top losers, ICICI Bank and HCL Tech saw notable declines, while Mahindra & Mahindra, Eicher Motors, and HDFC Life were the day’s major gainers. The India VIX, a measure of market volatility, surged over 9%, indicating heightened investor caution.
Analysts said the dip was largely influenced by global factors rather than domestic weakness.
Also Read: Sensex rallies 446 pts, Nifty crosses 26,150